The International Columbine Alpha Factor brings a proven, objective measure of
each stock’s price behavior to global investors.

Since its introduction in 1979, the Columbine Alpha Factor has been widely
recognized as the industry’s premier tool for the management of equity price
momentum. In 1991 we created optimized, country-specific versions of the Columbine
Alpha Factor for markets outside the US. A stock’s Columbine Alpha Factor ranking
is a forecast of that issue’s probable relative performance over the next six to
twelve months: will it outperform, underperform, or generally match the return
of its country market?

Recognizing the higher level of transactions costs generally experienced outside
the US markets, we optimize each version of the International Columbine Alpha Factor
to achieve superior predictive power at institutionally useful holding periods.
The design process focuses on big-cap, highly-liquid, institutional-grade securities
like those that make up the major international indices. Our experience shows that
these issues are the most efficiently priced. Any model that can successfully generate
alpha in these securities will have no problem with smaller cap, less efficiently
priced companies.